Corporate Governance of Enterprise Groups in China

Clear property right is the core of modem enterprise system, but it can＇t become all-powerful medicine to an enterprise because many enterprises with clear property rights in some countries can＇t avoid bankruptcy in market competition yet. Good corporate governance as a system arrangement will be good to the organization management operation. The research to the corporate governance of enterprise groups will be advantageous to corporate groups＇ standard operation. But the existing research is almost pointed to single enterprise not enterprise groups. The structural complexity of enterprise groups will increase the difficulty in corporate governance. The paper is based on and oversteps the traditional corporate governance theories to research the corporate governance of enterprise groups. We try to summarize the domestic and foreign correlation materials in order to provide the argument basis for the research to the corporate governance of enterprise groups.     

How Has Rural Tax Reform Affected Farmers and Local Governance in China？

Using nationally representative data, the present paper examines the impact of China's ongoing rural tax reform on farmers. The difficulties in further local governance restructuring are also discussed. It is argued that the issues associated with rural taxation and local governance in China result from inherent tension between an increasingly liberalized economic system and a still centralized political system. Although rural tax reform has helped to reduce farmers' tax burdens in the short term, the establishment of an effective local governance regime requires coordinated reforms to downsize local bureaucracy by providing social security for laid-off cadres, to strengthen local accountability by granting higher local formal tax autonomy, and to promote meaningful participation by expanding local democracy.     

New Thoughts to Increase Farmers＇ Earnings

This paper suggests that farmers＇ earnings are hard to be increased because farmers＇ material capital and manpower capital are very low. Solving the farmers＇ problem of little growth in income doesn＇t merely satisfy farmers＇ currency increase, but has the strategic eyes to increase the growth speed over that of citizen. This paper has evaluated four kinds of thoughts of increasing farmers＇ income discussed at present. It points out that relying on external forces to develop agricultural industrialization and regulate rural economic structure, lead to the income that farmers get from is limited. Merely lightening the burden of farmers can not be the main approach to increase earnings, only investing more in agriculture may create condition for increasing income and diverting country redundant labors. But we must improve farmers＇ culture quality and capital accumulation firstly. At last, it proposes thoughts and suggestions to solve the problem.     

People＇s Mobility and Guanxi Networks： A Case Study

The increase in the movement of people from rural to urban areas since the mid-1980s represents the largest labor migration ever experienced in China. Because migration is a process of selection, it is imperative that the major dynamics determining the selection are studied. What are the critical characteristics of migrants that help them to realize their mobility from rural areas to urban areas？ While educational attainment, gender, age, marital status and personal skills are important variables in the selection process, the present paper examines how social networks （guanxi connections） play a significant role in the process of migration selection in China. A case study from one of the northern villages in rural China is used to explore how social networks have shaped and given meaning to migration. The present paper elaborates on how people＇s social mobility has coincided with and been reinforced by people＇s physical mobility.     

The institutional innovation and improvement in building of the East Asian corporate governance model

The East Asian corporate governance model is gradually established based on institutional innovation of western corporate governance. This paper holds that institutional innovation of the East Asian corporate governance model is mainly manifested in following aspects： the relational style of governance mechanisms, more intervention of government, high concentration of ownership structure and unique operation of the power institutions etc. This unique model of corporate governance is considered as one of the motivations of ＂East Asian Miracle＂, but it also causes many problems. After the Asian financial crisis, the East Asian countries and regions reform and improve their pattern of corporate governance and obtain some results. The paper deems that reduction of government intervention and legal protection provided by judicial system are crucial for corporate governance.     

On the Coordinated Development of Urbanization and Rural Economy in China

Urbanization is one of important missions in china＇s modemization. The most vital task in the advancement of urbanization is to increase peasants＇ income and appropriately solve the issues concerning agriculture, rural areas and peasants, thus ensuring the accelerated development of rural economy. This paper mainly discusses five issues that urgently need solving in the development of rural economy and urbanization. They include peasant＇s qualification and right of the real management entity in the market, financial support, circulation and transference of agricultural land, welfare and social security of peasants and fairness of taxes on peasants.     

Deregulation or Governmental Intervention？ A Counterfactual Perspective on China＇s Electricity Market Reform

The long-standing severe power shortage in China has provoked much debate on whether China should further promote market-oriented electricity reform. The present paper addresses this issue by analyzing the impacts of deregulation of the electricity generation sector and retailing activities on other sectors, the macroeconomy and electricity users. A countetfactual scenario analysis is used based on a simplified computable general equilibrium framework. We find that deregulation can significantly improve the efficiency of electricity production, increase employment and enhance household welfare. These nontrivial findings can help to resolve many controversies about governmental intervention during China＇s economic transition. Our findings have two implications relating to policy feasibility and applicability; that is, competition in the electricity retail market shouM be phased in, and the necessary arrangements for unemployment in incumbent firms shouM be considered.     

Managerial Ownership and Firm Value： Evidence from Real Estate Listed Companies of China

Based on the panel data method and the financial data from 2001 to 2003 periods of Chinese real estate listed companies, the paper studies the mutual relationship between managerial ownership and finn value. The results show that there is a significantly positive relationship between managerial ownership and finn value, and there is a significantly negative relationship between managerial ownership and cash holdings of companies, and circulation proportion of shares. However, managerial ownership hasn＇t significantly effect on corporate value, and there isn＇t optimal managerial ownership proportion. These results are very important to managerial incentive problem of real estate listed companies of our country.     

The theory of the characteristic agriculture＇s development

The development of characteristic agriculture is the important way to adjust the agricultural structure and increase the farmer＇s income, and improve agricultural competitiveness. Scientific understanding of the basic characteristic agricultural content and features and grasping its basic ideas of development is the fundamentality to guide the economic development of agriculture. Based on the research of other scholars as a reference to agricultural development and based on the actual in Henan characteristic agriculture, we attempt to summarize the feature of the theory of agricultural development which can provide reference for the practices of characteristic agriculture.     

Research on Retailer Competence Evaluation： a Method of Resource-capability Matrix

Enterprise＇s competence is determined by tangible resources and intangible resources in an enterprise. The strength and scale of tangible and intangible resources are determined by management capability （internal）, marketing capability （external） and innovation capability （knowledge）, on which the author establishes Resource-capability Matrix Evaluation Method. The capabilities mentioned above are measured from two aspects： one is tangible resources and the other, intangible resources. After evaluation, we get the competitive index of tangible resources, intangible resources and the three capabilities above for an enterprise, The competitive index can help enterprises improve their competence in market. Usually, the research on competence is focused on manufacturers. Based on the evaluation principles above, this paper establishes the evaluation system for retailers, in which there are 10 norms for tangible resources and 13 norms for intangible resources. From the capability point, there are 9 norms for managerial capabilities, 8 norms for marketing capabilities and 6 norms for creative capabilities; 23 norms in total.     

农村义务教育辍学原因与农户家庭基本情况的关联分析

The main purpose of this paper is concerned about children‘s discontining study in rural areas or dropout phenomena in rural children‘s education, and their relationships with the economic condition of the rural households. The conclusion is that family income, parents‘ education level and structure of family operations have cross-impact on the education of a country child. To reduce the dropout rate of rural children, a key measure is to increase farmer‘s income, but income increase alone is not sufficient. It is argued that reducing dropout is a relatively long-term process that cannot be solved with shot-term government policy adjustment. To increase the rate of junior middle school education in rural areas, an overall economic and social development in rural areas is necessary.     

Provision of Residential Solid Waste Management Service in Rural China

Drawing on a dataset covering a large number of randomly sampled villages across China, the present paper examines the issue of residential solid waste management service provision in rural China, Using a logistic model we evaluate the impacts of different factors on service provision at the village level with regard to residential solid waste disposal. These factors include the environmental pressures caused by residential solid waste generation, the financial capacity of the Villagers＇ Committee, village elections and the individual characteristics of village heads. We find that living density, village per capita income, the ratio of irrigated land, and the per capita profit submitted by village enterprises to the Villagers＇ Committee all have positive impacts on service provision. Moreover, village heads who are popularly elected by villagers are more likely to provide services that satisfy voters＇ demands.     

Migration Experience of Village Leaders and Local Economic Development： Evidence from Rural China

This paper examines the impact of migration experience of village leaders on local economic development,based on the village-level data of the 2005 China General Social Survey.Our results show that the human capital of village leaders accumulated during the migration period has had a positive effect on per capita net income and per capita non-agricultural income in rural China.The migration experience of village leaders also plays a positive role in entrepreneurial activities in rural regions.From a policy perspective,these findings call attention to the importance of harnessing potential benefits of return migration to local economic development in rural China.     

Meeting the Health-care Needs of the Rural Elderly： The Unique Role of Village Doctors

Despite their recent deterioration, village clinics have historically been an important source of health care for the poor and elderly in rural China. In this paper, we examine the current role of village clinics, the patients who use them and some of the services they provide. We focus specifically on the role of village clinics in meeting the health-care needs of the rural poor and elderly. We find that although clinics are continuing to decline financially, they remain a source of care for the rural elderly and poor. We estimate that the elderly are 10-15 percent more likely than young individuals to seek care at a clinic. We show that clinics provide many unique services to support the rural elderly （and the elderly poor）, such as in-home patient care, the option for patients to pay on credit, and free and discounted services.     

Study on the Governance Structure and Motivation Based on Human Resource Specific

The scarce resources put into the enterprise include material assets and human resources. Different human resources have different degree of asset-specific, which will determine the governance structure. Design of motivation is a key factor to governance. The single method of motivation cannot motivate the enterprise＇s employees effectively because of the complexity of human resources. This paper holds the point that intrinsic and extrinsic motivation should be applied together to motivate enterprise＇s employees in China, then establishes a motivation model and advises that enterprises should use different methods of motivation for different employees based on the asset-specific of human resource.     

知识资本、吸收能力与产业创新绩效的影响研究——来自高技术产业分行业数据的实证检验

In the study of the influence of knowledge capital on the performance of industry innovation , based on the perspective of absorptive capacity, this paper use the panel data of high-tech industry in 2003-2014 to make an empirical analysis. This result shows that knowledge capital has a significant effect on the performance of industrial innovation, but the ability to absorb knowledge is not prominent. From the perspective of composition of knowledge capital, R&D capital and R&D human capital play positive roles in promoting innovation performance; About different dimensions of absorptive capacity, both potential absorptive capacity and actual absorptive capacity can promote innovation performance，but the ability to absorb knowledge is lower，higher R&D intensity has a significant competitive advantage for innovation performance, R&D institutions help to enhance absorptive capacity. The research has an exploratory effect on how to improve the efficiency of knowledge capital is to be absorbed and transformed to improve the performance of innovation.     

Research on the Method for Establishing KISM Evaluation Indexes System of Complex Systems＊

Complex systems are an organic macrocosm composed of several interaetional and interdependent factors or subsystems which are influenced by their surroundings according to certain structure and order. To describe and evaluate accurately the objects of complex systems, what should be solved primarily is to establish the indexes system, which is of great significance theoretically and practically. The key point of establishing complex systems＇ evaluation indexes system is how to scientifically and efficiently solve the problem between decreasing the dimensions of evaluation indexes system and avoiding the loss of evaluation information. This paper puts forward a new method of Key indexes Screening Mean （KISM） with the correlative theory of matrix transformation. And it introduces the theory and algorithm of KISM and presents its program. This method can solve the above-mentioned problem efficiently.     

From State to State: Quasi-privatization and Firm Performance

This paper uses a sample of Chinese listed companies whose controlling shareholders have changed from government agencies to state-owned enterprises＇ （SOEs）, to examine whether reducing government intervention while maintaining government＇s ultimate control could improve firm performance. The results show that the overall performance of these firms improves after the transfer of their controlling shareholders, due to improvements in both operating and non-operating performance. When we separate all samples into solely SOEs and other SOEs based on the controlling shareholder, we find that operating performance improved significantly in the solely SOE group, whereas non-operating performance improved significantly in the SOE group. In addition, we identify sources of performance improvement from two perspectives： corporate governance and related party transactions. The results imply that the Chinese Government should continue to decentralize control and, at the same time, continue to monitor firm operating efficiency.     

R＆D,Human Capital Investment and Productivity： Firm-level Evidence from China＇s Electronics Industry

Usingfirm-level panel data covering 2005-2007, the present paper examines the effects of R＆D and human capital investment on productivity in China＇s electronics industry. It is found that both R＆D and on-the-job training positively contribute to total factor productivity （TFP）. Firms＇ investment inemployees＇ health insurance andpensions, whichare components of workers＇ compensation, generate a productivity-enhancing effect, supporting the efficiency wage hypothesis. The estimated impact of R＆D on productivity varies among different forms of ownership, and foreign-owncd enterprises experience higher R＆D efficiency than state or private enterprises. After controlling for potential endogenous causality between TFP and R＆D, the above findings remain unchanged We also find that on-the-job training can improve the quality of human capital and is helpful in promoting productivity. Therefore, establishing indigenous technological capability through various technological sources is quite important, and the government should devote further effort to investing in human capital.     

A Late Comer＇s Internationalization Strategy for Chinese Firms： A Theoretical Study

The purpose of the paper is to discuss the internationalization strategy of Chinese finns from a latecomer＇s perspective. First, this paper reviews five existing conceptual frameworks of foreign market entry mode for the internationalization of finns from developed countries. Then, this paper integrates the different factors considering in existing frameworks to a comprehensive framework. With this modified framework and Chinese finns＇ unique characteristics, some propositions are presented about the path and features of Chinese finns＇ internationalization based on the comprehensive framework discussed from a latecomer＇s perspective. This paper also discusses that the future studies on Chinese finns＇ internationalization strategy should attempt to increase the congruence between the theoretical and operational level, to clarify concepts and variables of the frameworks and the relationships among those variables.